Question 1

Technological changes often explain why a product enters the decline stage of the product life cycle.

Accepted Answer

Technological changes can make a product outdated or less relevant, leading to decreased demand and ultimately causing the decline stage in the product life cycle.

Question 2

Once a market is mature,the product will naturally enter the decline phase of the product life cycle.

Accepted Answer

A mature market does not necessarily mean that a product will enter the decline phase immediately or naturally. Many products and services in mature markets can sustain or even grow through innovation, market expansion, and adaptation to changing consumer needs.

Question 3

Arm & Hammer has extended the profitable stages of the life cycle for its baking soda by coming up with new uses for the product.

Accepted Answer

Arm & Hammer has introduced new uses for baking soda such as using it for beauty treatments, household cleaning, and as a deodorizer, which has extended the profitability of the product.

Question 4

Sales tend to peak in the growth stage of the product life cycle.

Accepted Answer

The answer of Sales tend to peak in the growth...

Question 5

Marketers can influence publicity but cannot control its use.

Accepted Answer

Publicity is any mention or attention given to a company or product by media sources. Marketers can influence the message and timing of publicity through strategic PR efforts, but ultimately they cannot control how the media will use or interpret the information.

Question 6

Solar and wind power plants are in the decline phase of the product life cycle.

Accepted Answer

This statement is false. Solar and wind power plants are actually in the growth phase of the product life cycle, as demand for renewable energy sources continues to increase.

Question 7

Promotion is communication designed to influence consumer purchase decisions.

Accepted Answer

Promotion is a marketing strategy that aims to increase sales and influence consumers to make a purchase by providing information about a product or service. It includes various communication methods such as advertising, personal selling, sales promotion, direct marketing, and public relations.

Question 8

Standard definition televisions are in the maturity stage of the product life cycle.

Accepted Answer

The answer of Standard definition televisions are in the maturity...

Question 9

If sales of a once rapidly selling product turn sluggish over time,marketers may be able to extend its life cycle by changing the marketing mix or making changes to the product itself.

Accepted Answer

This statement is true. Marketers often use various strategies to revive the sales of a product that is experiencing a slump in its life cycle. This may involve changing the promotional activities, adjusting the price, altering the packaging or design, improving the product quality or features, or targeting new customer segments. By making such adjustments, the product can be reintroduced to the market and its life cycle can be extended.

Question 10

Once a product enters the maturity phase of the product life cycle,increases in sales by one firm typically come at the expense of other firms.

Accepted Answer

During the maturity phase, the market becomes more saturated and competitive, and therefore, firms must compete for market share. As a result, increases in sales by one firm may come at the expense of other firms.

Question 11

Technology is an important part of maintaining contact with consumers.

Accepted Answer

Technology has become an integral part of modern business practices, and staying in touch with consumers is no exception. From social media platforms to email newsletters and mobile applications, technology offers a variety of ways for businesses to maintain contact with their customers and build long-lasting relationships. As such, technology is indeed an important part of maintaining contact with consumers.

Question 12

Water Words Inc.is the leading supplier of waterproof textbooks.Wendi Storm,CEO of Water Words,is pleased to note that the company has experienced rapid growth in profits.However,she is a bit concerned because competition is increasing,as some other publishers are also starting to waterproof their texts.Wendi's observations suggest that her company's product is in the maturity stage of its product life cycle.

Accepted Answer

The answer of Water Words Inc.is the leading supplier of...

Question 13

Network television and personal computers are both in the maturity stage of their product life cycles in Canada.

Accepted Answer

Both network television and personal computers have been widely adopted and are no longer experiencing rapid growth in demand, indicating that they are in the maturity stage of their product life cycles in Canada.

Question 14

The stages of a product life cycle include expansion,peak,contraction,and trough.

Accepted Answer

The stages of a product life cycle typically include introduction, growth, maturity, and decline, not expansion, peak, contraction, and trough, which describe economic cycles.

Question 15

The best promotion creates a bond with consumers that encourages future purchases.

Accepted Answer

The statement is true. The objective of a promotion is to not only increase sales in the short term but also create a positive relationship with consumers that will inspire them to continue making purchases in the future.

Question 16

Firms often try to protect their markets in the maturity stage of the product life cycle by introducing new product features.

Accepted Answer

As the product enters the maturity stage of the life cycle, competition intensifies and firms try to differentiate their product by introducing new features or improving existing ones to protect their market share. This strategy is often used to maintain customer loyalty and limit the entry of new competitors into the market.

Question 17

During the introduction stage of the product life cycle,the firm's marketing efforts usually are focused on raising consumer awareness of the product and product category.

Accepted Answer

During the introduction stage, the main goal is to create awareness about the new product and its benefits, as well as the product category in general.

Question 18

Great promotion has the ability to get consumers to continue buying products that they view as being inferior.

Accepted Answer

The answer of Great promotion has the ability to get...

Question 19

Changing the marketing mix or finding new uses for the product can often extend the period of time a product remains in the profitable stages of the product life cycle.

Accepted Answer

By changing the marketing mix, a product can be reintroduced to the market with renewed interest. Finding new uses for the product can also open up new markets and prolong the product's life cycle.

Question 20

Four years ago,Elliv-Belle Industries introduced a fuel cell that households can use to generate their own low-cost electricity without having to buy power from electric utility companies.The product has been successful and is already in the growth stage of its life cycle.During this stage,the product is likely to have the market all to itself because competing products normally aren't introduced until the maturity stage.

Accepted Answer

While it is true that the product is in the growth stage of its life cycle, it is not necessarily true that it will have the market all to itself during this stage. Competing products may be introduced earlier or later, depending on various factors such as market demand and technological advancements.

Quiz 11: Part 1: Product and Promotion: Creating and Communicating Value